absence of product variety and low level of new listing thereby hampering dept and liquidity of the capital market;

conflict of interest and misconduct of the current leadership of SEC, thereby fettering its regulatory capacity;

loss of credibility of the entire SEC management team, led by the DG, Arunma Oteh;

Regulatory failure of SEC and CBN;

incompetence and lack of statutory qualification by the current DG, SEC, Ms Arunma Oteh ;

unguarded utterances by key financial system’s regulators; AMCON’s activities that constitute a time bomb and potential disaster in waiting in that there is doubtful process of Non Performing loans.

(NPLS) valuation, inadequate liquidity and capital base, AMCON’s involvement of one of its regulators, SEC, in its Board contrary to Section 10, AMCON Act, non-accountability of AMCON to any authority; layers of moral .

hazards in SEC and diversion and issue of bonds for debt re-financing;